Analysis of the Impact of Tourism on the West Africa Economy: A Panel Data Approach
Tourism and related recreation activities play a significant role in the generation of income / foreign exchange and provision of employment opportunities. Against this backdrop, this paper aims at ascertaining empirically the impact of tourism on the West African economy from 2000 – 2004. The relationship is analysed based on a panel data approach. While the study estimates the relationship between economic growth and growth in tourist arrivals conditional on main macroeconomic variables, it recommends that the role of tourism cannot be over-emphasized in the sustainable economic development in West Africa. In other words, economic performance in West Africa can be enhanced through sound tourism development policies that support economic openness with greater emphasis on liberalization policy since the region stands to gain from this policy stance.
|Date of creation:||28 Nov 2007|
|Date of revision:||07 Jan 2008|
|Publication status:||Published in TOURISMOS: An International Multidisciplinary Refereed Journal of Tourism 2.3(2008): pp. 73-92|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Robert J. Barro, 1991.
"Economic Growth in a Cross Section of Countries,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 106(2), pages 407-443.
- Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
- Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
- N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
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